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LIfetime Allowance in SIPP
I am a bit confused by the SIPP LIfetime Allowance perhaps someone can help. Is it correct that in drawdown the lifetime allowance can be breached by income from investment within the SIPP? If this is correct at what point must the pot be below the lifetime allowance and at what point must you take a lump sum from the fund…
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Pension Administrators
My wife worked for a company for 16 years between 1979 and 1995 and contributed to their pension scheme (final salary scheme she thinks) She is coming up to retirement in the next year and wants to start the "ball rolling" in organising her pension. Over the past 3 weeks she has tried to telephone, sent emails/letters to…
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Release or freeze
Any advice would be welcome My company is wanting to move pension providers, I only have 5 years left to work, should I transfer my pension of 20 years to another provider, freeze it with existing provider or release my existing pension and join the new one.
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IFA Fees for Pension managment
Hi, I've decided to start a pension so had a no obligation meeting with an IFA recommended to me by my accountant. After reading through the proposition the fees seem ridiculous. For a monthly contributions it's 50% of the first £250, 30% of the next £500 and 10% of the rest. That means if I pay £500 pm it'll cost me £200…
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Pension pot fund opinions
Hi, I have decided it’s time I took a look at how my pension is performing. I am 40 years old. I currently contribute approx £10000 gross a year (high mainly because of the child benefit changes) My employer contributes 9% of my salary although this will rise in July to 12% when I have been with them 10yrs. I have been…
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Can i backdate a pension contribution?
In March i started a personal pension (monthly contributions). In April i lost my job. I have some spare money. Is there any way i can put in a lump sum and get tax relief?
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Pension Advice - Where to go?
Hi all, I am currently 21 years old and want to start planning for the future and my retirement. I currently work in the public sector and was automatically enrolled on the company pension scheme upon employment. This was paid 4% by myself and 8% by the company however I opted out as I wanted to see and have access to all…
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Forum readers
I am now 62 and have been reading this forum for a year or two, greatly enjoying the diversity of the subject matter and the opinions of all our fellow users. And gosh, what a lot I've learned from it ! So, thanks to all of you. Now, I've noticed that some correspondents are relatively youthful in terms of anno domini…
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Advice please
Sadly my husband passed away last year, I was named on his sipp as sole beneficiary, my solicitor wrote to the pension firm handling it and they've informed him that I am not beneficiary, but maybe it's been changed to his daughter. Is this legal? Up until his death I was sole beneficiary, surely I should have been…
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Money Purchase pension help please
Help please I have a small pension from when I worked at AMP Pearl, it is a money purchase scheme, it has only £8200 in it as I only worked there for a couple of years, Now it says I can take my pension at 55 I am 59 in Dec this year. I rang to ask if I can cash this one in and was told I could until she saw it was a money…
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Personal pension access
I have a personal pension that i set up when i was 21, but due to lack of work i was unable to make regular payments into it. I just want some advice on, if i can transfer the money that is in the pension into a cash ISA in my bank or even just collect the money (after all its my money that i have paid in)..... I am only…
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Protected Pension After Death
In March 2012 i went on holidays with my husband to Crete. The day after we arrived he suffered a heart attack and died instantly. He was 48 i was 40.. My husband always assured me that he had a good pension and i would be ok if anything happened to him. After the funeral and other red tape was dealt with my father…
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BRASS fund taking early.
I currently have around £10k in my BRASS fund and I am 20 years from retirement. I pay £35 per week into the fund. I was looking at taking the BRASS fund and investing in a different long term investment fund as well as putting the £35 per week into the same long term investment. My question is : Can i take out my BRASS…
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How much can I draw down?
Just checking: I have done my own calculations, but how much more could I actually draw down under flexible rather than capped drawdown, before I hit the 40% tax rate? Currently (age 57), I can take 5.52% of a pot of £400K, which is £22,080pa I need to have £20K per annum from somewhere before I can move to flexible…
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Unclaimed Estate - help needed to claim
Hi all My husband has just found his dad listed on the bonavacantia site and we really need some advice on how to proceed. First off, there was no will so do we need to apply for probate/letters of administration (his dad lived in London but we are in Glasgow)? Or is this unnecessary? In order to claim, we have to provide…
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Minimum time to be in a pension scheme
I was in 2 schemes many years ago for less than 2 years & I was told they couldn't keep me in the schemes as there was a minimum qualifying membership period of 2 years.. and they paid me back the contributions.. So I'd like to find out if there is any minimum time you need to be in a pension scheme as I may be about to…
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State Pension Quandry
Dear All I hope someone can help me with advice regarding my state pension or tell me where to get the best advice. I have set out the details below: I am female and qualified for my state pension in October 2009. At that time I was advised that I would only receive 75% of the full pension because I had insufficient…
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Royal London retirement annuity plan question
My husband has a small pension plan that he has kept going following advice on here that it is a more valuable and worth continuing with. Started in 1985 paying I have looked out the schedule and from his 60th birthday he can be paid an amount of annuity per annum (£1177) exclusive of profits does this mean that this table…
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LGPS - Transfers
I'm currently in the Local Government Pension Scheme with over 20 years of contributions (pre and post 2008). I'm moving to another local goverment employer so was planning to transfer my current pension to my new membership. I believe that the key points for me to consider are: 1. Once transferred, my pension will be…
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Pension - My money has been "returned to the fund"
I had group pension plan with AXA for a couple of years. After not having received correspondence for a while I just phoned them to find out why. Apparently they wrote to me about transferring the management of the scheme to another provider. As I didn't respond, they have returned all my contributions to the fund and I no…
